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Cavuto on Business

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. (CC)

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00:30:00

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San Francisco, CA, USA

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Comcast Cable

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Virtual Ch. 760 (FOX NEWS HD)

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mpeg2video

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ac3

PIXEL WIDTH
1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Charlie 3, Gm 3, Adam 3, America 3, Dennis 2, Phyllis 2, Campbell 2, Washington 2, Afghanistan 2, Colorado 2, Stouffer 2, U.s. 2, California 2, Apple 2, Michigan 2, The Union 2, Dagen Mcdowell 1, Pbell 1, Charles Payne 1, Us 1,
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  FOX News    Cavuto on Business    News/Business. Neil Cavuto and market  
   analysts discuss financial issues and forecasts. (CC)  

    March 23, 2013
    1:00 - 1:30pm PDT  

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>> neil: unions are starting to get loud. over the top union protests. in michigan they are mad about a right to work law that starts next week. in washington they are mad about all those automatic spending cuts they say that will get worse every week. with right to right would to work states looking to cut more spending is it time for unions to get with the program? to charles payne, dagen mcdowell
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and charlie gasparino. >> at this point you would think they would start to change their tactics. inflatable racks. >> i love it. >> i find them funny too but realistically it's proven communities where there is fewer and less presence of unions are doing better. you see what happens to the other industries. they have to figure out their dynamic. i have to tell you they will probably have to take a step back to tell the regular people out there, we are not in it for ourselves, that message doesn't get across anymore? >> this is evidence of unions on the run. in michigan, a huge move that state is birth of unions in this country is now a right to work state. what you see, you are starting to see down and dirty tactics. a lot of unions in that state
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are doing end run around the law by putting in place like wayne state university mandatory dues must be paid by these unions for periods of years, eight years. you are seeing it all over the state. >> neil: before things get worse. >> a sign desperation? >> i've been to strikes my dad was union guy. i think these people are prette. i would point out some places like coal mines and textile plants in south carolina, if you don't have a union you are making next to nothing. so unions are needed, i believe. by the way, they pay dies for a service. you are protected by the union. if i don't have a union you are making no money. that said, let's face it in some of these places they have to give. there is no doubt. i was listening to some of the gm executives saying unions weren't the problem. they put gm out of business. there is a give and take. if you are telling me that this
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country does not need unions that is insane. unions put food on our table, remember that. >> neil: right now some of the protestors, is as if they have a tin ear in what is going on. to demand the double-digit increase in benefits or on to avoid 401-k plans and six of the states where they are pushing this when private industry workers has gotten used to this. either their head is in the sand or up another dark place. [ laughter ] >> there is different ways to look at this. playing on what charlie said, i don't see anything unusual at all about an interested group on lobbying on behalf of its members. not just unions but from any interest groups you should expect this. i think it's important to counter this argument that
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charles made and charlie butressed that they drove gm out of business. >> they did. >> there are in each of these cases multiple factors. to say that was unions' fault is to bash them without really adding to the debate. >> pension plans and some of the benefits that the gm workers received, listen, i'm a union guy but you have to give in on this. when they push too few they lose -- too far, they lose. >> i could make a list of ten other things. republican party pushing so hard on immigration has not been good for the republican party. is this that their number one problem? i don't know. >> neil: what do you make that unions have to walk a fine line. they are important as far as
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looking up to their workers. but have they grown irrelevant when they push points like this that don't see the realities of the day? >> you can merge, what charlie was saying and adam is trying to prove here, there was a time when we did need unions across the board in this country. >> private sector employees are losing ground. >> if the company loses everyone loses. unions are in it for themselves. they don't talk -- when i was growing up you could watch an ad look for the union label because we felt a kinship but union workers get more than anyone else. >> remember when you are comparing them to the private sector those are wages that are declining. those are people -- >> and it's global and guy making a car in detroit you are going to pay him so much money
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that japanese is going to pay him. >> let's add to that neil. when you say non-workers, they aren't doing better. >> here is the bottom line. around these states like california, a lot of cities where they could have more police officers but the senior officers in the unions won't give up a nickel. >> to that point you have wages that are struggling in the private sector in this country. would you think that the unions would have at least some strength in that and the individual worker would think maybe unions were the answer and you are not seeing that. that is one of troubling things for this. you are not seeing the rise of unions. you look at walmart, for example and you are not seeing it. >> u.s. has stopped becoming a manufacturing and has become a service economy. >> neil: go ahead, adam.
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>> charlie was making an interesting pointed. you said earlier why don't unions give in the way the private sector employees have given in in the fact of the matter is a lot of people watch that understand that the benefits aren't very good sometimes. >> private sector gets screwed on everything. >> here is the thing. let me finish. thousand jobs or a thousand workers, those private sector guys getting screwed are a getting hundred guys getting lavish benefits. >> sounds like the grapes of wrath. >> neil: are we forgetting that we as taxpayers fund at least in the case of the public, union members their benefits, their incredibly generous benefits compared to ours?
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we are paying for them. we fork over the money and pay the bills. i think that is the issue that is lost. hey, taxpayers you are here as a service to me. you help me and i'm paying through the nose for you. when the teachers strike in chicago it makes people angry. they know that, frankly we the american people. >> neil: 401-k plans, apparently a fox news alert to many of them. i'm not saying it is fair or right get with the program. >> and we the american taxpayers the union jobs for autos. >> it's going to take a iron worker to point this out. there difference. here is the thing i do have a problem because.
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>> neil: you were waving your hammer and sickle. >> we talk about unions like it's a monolith. huge difference between coal miner union and police union from california to retired with two-thirds of your benefit. >> neil: that is what i was trying to do. don't treat me like adam. call it a not so special delivery from congress. what lawmakers are doing that could spell double trumps for both the post office and taxpayers. i'm phyllis, and i have diabetic nerve pain. when i first felt the diabetic nerve pain, of course, i had no idea what it was. i felt like my feet were going to sleep. it progressed from there to burning like i was walking on hot coals to like a thousand bees that were just stinging my feet. i have a great relationship with my doctor.
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the shootout matched those found at murder scene of tom clements. he led the colorado corrections department. he was killed at his home tuesday night. united states reaching an agreement with afghanistan. pentagon will hand over control a detention center to afghanistan. it was contested by some officials they may release dangerous detainees. it's considered critical to withdrawal of troops by the end of next year. now back to cavuto on business and for the latest log on to foxnews.com. >> neil: lead it to make the post office spend more money. congress voted to keep the mail coming on saturday. post office wanted to ditch that saturday delivery to five-day delivery to save cash.
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get this, a new poll shows that they are fine with this. seven out of ten not getting junk mail on weekends. dagen, help me with this. >> god forbid that they allowed to manage the post office. $16 billion, $2 billion would be saved just by ending saturday mail delivery and congress has to step in. still waiting for approval to close some of these post offices and deal with the benefits. i think they are like four elderly people out there who have congressional phone numbers and they work the phones. they are angry they are not going to get mail delivered on saturday. it's called email! >> despite dagen agism which is deeply troubling. >> i'm talking about my dad. i'm talking about my dad.
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>> neil: go ahead, adam. >> i think it's very sad situation. it's a total mess. we need to separate the post office completely from the u.s. government and let it do what it needs to do. it's in the middle of a massive technology change. it's obviously becoming obsolete and it's going to death by a thousand cuts. >> neil: we tie it down. i always think the post office gets it. they have to deliver everywhere. they have to deliver to any obscure tent in the middle of nowhere. their obligation and lawsuit. you tucked away -- isn't there a problem. they are mandated to lose money. >> they are mandated to lose money but the story gets back to the story of washington to have a spending problem. it has a spending addiction out
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of this world. you cannot fix this addiction. it's spending addiction and a power play. >> neil: what do they tell the post office, you are making us look bad? >> you have military generals we don't need that tank and bomber and congress says, yeah, you do. it's nuts. to your point there is way of making it better and perhaps even turn a corner. >> in this instance i agree. >> i think there is union issue here. >> neil: here we go. >> the union. listen. [ laughter ] >> i stopped myself i pay cash. >> neil: the only guy here, money in cash the way i want it. >> i want it in packets. >> i think it's about time for a spinoff.
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wouldn't it be a great ipo. if the government can invest in all these banks, why doesn't the government spin off the post office. >> neil: it's a private institution but it's hamstrung by these requirements that are out of date. if it is forced to play by the rules and competitors in the private world are not, it's never going to get out of its own way. >> it's worse than that. they are required to do certain things but they are prohibited from doing certain things. for example, they can't sell advertising on their trucks which would be something real obvious. they can't milk or beer because they have a great storefront real estate. i completely agree we could do an ipo of the post office. >> the motto would be fannie and freddie. [ laughter ] >> they do have a monopoly.
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no one else can deliver mail. >> it's not a great monopoly. >> they have to deliver one person in a town of two people, sell them to fed ex and ups and let them operate it. >> until congress unshackles them, it's going to fall on the american taxpayer. >> you just made the case it should. listen, bottom line it's uneconomical to go to the middle of nowhere and guarantee mail delivery. that is just doesn't pay for itself. >> neil: last segment, virtues of unions. they are ingrained in us. in this segment, where are you? >> i'm saying if this is an essential service to the taxpayer we have to suck it up. >> neil: is it essential to you? >> i'm thinking beyond myself.
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>> neil: i love that about you. >> we can't afford to lose billions of dollars. >> close some of these post offices my daddy won't have anywhere to go and go to the golden skillet and hang out. >> neil: don't knock it. they have six egg special there. i digress. third birthday for healthcare lay or is it? when are things going to get messing. eric boling have the final diagnosis but up next, if cash is king, then one of our biggest companies must be sitting on a royal flush, potentially $170 billion worth. what apple is not doing with all of that grain that should be a red alert.
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>>. >> neil: they say money doesn't grow on trees, trust me i checked, try telling that to apple. a new report says it is sitting on close to $170 billion of it. that is money not being spent on
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new investments. most creative thing you can come up now, just get a big dividend to all our shareholders, not bad but not new equipment this money should go to if you want to extend the economy. what does it say? >> majority of the money is offshore, $1.9 trillion could be offshore. all corporate america. bottom line it would be wonderful if that money could come here. but these guys are taxed in local places they would love to get a break to bring it back here. they are worried about it having it here under this environment. there is an amazing opportunity being lost. >> neil: think about if you are looking at the economy turning around and betting on a turnaround you would use that money and invest in equipment, new shops. what a lot of these companies tend to do is boost their dividend, buy back stock, take out a competitor but they don't
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expand? >> one of the problems with apple it's got a problem because it's too successful. you want to be careful that you don't do something with it. apple can't sell more iphones by spending more money. it needs to avoid making acquisitions, cisco bought the flip camera business and it was a disaster because the company was under pressure to spend the money. the fact of sitting on the money is how well they are doing. >> i would say this is a big debate in corporate america. imelt addressed it in a world that you have to worry about terrorism you need to keep a lot of cash on hand. >> neil: sit good or bad sign to you? >> it's not good. tax reform would help, but i assure you apple is not afraid of repay tree eighting cash. that is not the issue for --
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ever since he wrote that book. don't step on my parade. [ laughter ] >> up next, do you think it's too late to get in all that green in the parking ticket ma snshgt think again. stocks that charles and adam are buying with their own money on the line. they say you should, too. what's droid-smart ? with google now, it automatically knows when you need to leave for the airport, how much traffic there is, and can have your boarding pass ready. the droid razr maxx hd by motorola. droid-smart. droid-powerful. [ dennis ] allstate wants everyone to be protected on the road. whether you're an allstate customer or not. all you have to do is call. [ female announcer ] call and sign up for good hands roadside assistance today. [ dennis ] are you in good hands? but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms
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plus has a decongestant for your stuffy nose. thanks. that's the cold truth!

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